Energy Market Recap - 10/18/2017

October 18, 2017 3:41PM CDT

December Crude Oil closed up 0.14 at 52.25. This was 0.33 up from the low and 0.31 off the high.

November Heating Oil closed down 0.23 at 180.75. This was 1.79 up from the low and 1.14 off the high.

November RBOB Gasoline finished up 2.40 at 165.41, 0.12 off the high and 3.58 up from the low.

November Natural Gas finished down 0.09 at 2.87, 0.07 off the high and 0.02 up from the low.


While the December crude oil contract waffled around both sides of unchanged today, it did seem to favor the upper half of the prior session's trading range and it did make a higher high. With the API crude stocks inventory decline of more than 7 million barrels in the Wednesday trade, the 5.7 million barrel decline in EIA crude stocks was less supportive than would have been expected. In a sign that the US was attempting to utilize a larger portion of its increased domestic production the EIA reported that net imports of crude oil fell to the second lowest level on record last week. EIA crude stocks fell 5.731 million barrels and are 12.226 million barrels below year ago levels. Also, crude stocks stand 64.723 million barrels above the five year average. Crude oil imports for the week stood at 7.483 million barrels per day compared to 7.617 million barrels the previous week. The refinery operating rate was 84.50% down, 4.70% from last week compared to 85.00% last year and the five year average of 86.24%.

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results. Trading advice is based on information taken from trades and statistical services and other sources that RJO Futures believes to be reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.

Distribution in some jurisdictions may be prohibited or restricted by law. Persons in possession of this communication indirectly should inform themselves about and observe any such prohibition or restrictions. To the extent that you have received this communication indirectly and solicitations are prohibited in your jurisdiction with registration, the market commentary in this communication should not be considered a solicitation.